Bhaskar Resigns as Canelo Publishing Director to Devote more time to writing and AI Research

Canelo's co-founder, Michael Bhaskar, shifts to full-time writing and AI research—a key player in the UK publishing scene.

on Nov 09, 2023

Bhaskar Resigns as Canelo Publishing Director to Devote more time to writing and AI Research | Frontlist

Michael Bhaskar, Canelo's co-founder and publishing director, will step down from his management position in January to focus on full-time writing and AI research.

Canelo was launched in early 2015 and has since grown to become one of the UK's fastest growing new publishers, with a turnover of around £5 million and two nominations for Independent Publisher of the Year at the British Book Awards.
Beginning as a digital-only publisher, it currently publishes fiction and nonfiction in hardcover and paperback across the trade and globally, while remaining true to its roots by highlighting the importance of e-book and audio versions.

Bhaskar is now taking advantage of the opportunity to undertake further work in that sector after co-authoring the New York Times and Sunday Times bestselling The Coming Wave: AI, Power, and the 21st Century's Greatest Dilemma (Bodley Head) with technology entrepreneur Mustafa Suleyman. He will remain active in Canelo and will continue to serve on the board as a non-executive director.

"Leaving a comfortable job to start a new business felt like a difficult but exciting decision at the time," he added. But it pales in comparison to the decision to leave. I'm extremely pleased with what we've accomplished. We've sold over 20 million books and provided people in 197 countries with hundreds of millions of hours of amusement. We continue to have the greatest royalty rates of any publisher we know.

"I've had the honour of working with so many extraordinary authors, partners, and colleagues, which has been a life-changing and life-enhancing experience that has taught me so much." I'd want to thank my patient and incredibly brilliant co-founders for their devotion, support, and tremendous spirit, and I look forward to an exciting new chapter not just for myself, but for Canelo."

"Michael is one of, if not the, best publishing people I've had the honour of working with," stated Iain Millar, co-founder and managing director. We used to get together over a game of pool and remark, "This is how the book industry should be." It wasn't quite so simple, but the concepts we discussed back then - greater royalties, valuing digital more, packaging better, spotting talent faster, giving what readers genuinely want rather than what we believe they should want - all still apply.

"It's a testament to his foresight, as well as his tenacity, that we're still here making that case and making a difference for so many authors and readers." He leaves a tremendous legacy at Canelo, particularly in the authorial brilliance we have the pleasure of working with.

"In recent months, he has put in place a long-term plan that will see us enter an exciting new phase for the business; we'll be announcing more soon, but this represents a significant change that will see us enter our second decade with continued growth, a rebuilt company structure, expanded and new roles, and major initiatives in areas of publishing such as non-fiction."

"In the meantime, we thank Michael immensely for everything, look forward to working with him as a non-exec, and to reading his work on AI, a crucial issue for publishers to navigate."